Selbyville, West Virginia Property Taxes
The median property tax rate in Selbyville, WV is 0.53%, considerably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Selbyville at $34,300, the typical annual property tax bill reaches $181, significantly below the national median of $2,690. Property taxes in Selbyville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Selbyville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Selbyville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Selbyville, West Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,440
Ownwell’s Selbyville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Selbyville with just two data inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Selbyville to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Selbyville, West Virginia
Property taxes in Selbyville, West Virginia, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Selbyville is 0.53%, which is lower than both the West Virginia state median and the U.S. national median of 0.99%. Local government entities within Selbyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Selbyville estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Selbyville's effective property tax rate to other counties in West Virginia and the national median. For comparison, the 26236 zip code has both the highest and lowest median property tax rate of 0.53%. Understanding how these areas compare with Selbyville provides valuable insights into the varying tax landscape across Upshur County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Selbyville Tax Rate
0.53%
Average Upshur County Tax Rate
0.53%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Selbyville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26236 | 0.45% | 0.53% | 0.53% | 0.53% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Selbyville, West Virginia
In Selbyville, West Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Upshur County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Selbyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $181 in the 26236 zip code, while the lowest is also $181 in the same zip code.
Property Tax Assessment Values Across Selbyville, West Virginia
Source: Ownwell
$31,200
$67,850
$104,500
Average Selbyville Assessed Value
$34,300
Average Upshur County Assessed Value
$85,400
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Selbyville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26236 | $7,560 | $13,500 | $34,300 | $47,600 | $69,860 |
Source: Ownwell
Property Tax Bills Across Selbyville, West Virginia
In Selbyville, Upshur County, WV, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Selbyville stands at $34,300. Property taxes are then determined by applying the local tax rate to this assessed value. Homeowners in Selbyville see a range of tax bills, with the 25th percentile paying around $63, while those in the 75th percentile face bills around $289. The top 10% of taxpayers might see bills as high as $388. These figures highlight the variability in property tax obligations depending on property values and specific assessments. The highest and lowest median tax bills in the region are both $181, indicating a relatively uniform tax rate. Compared to the national median property tax rate of 0.99%, Selbyville's property tax rates provide a more affordable option for homeowners, potentially easing the financial burden associated with property ownership.
Average Selbyville Tax Bill
$181
Average Upshur County Tax Bill
$463
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Selbyville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26236 | $38 | $63 | $181 | $289 | $388 |
Source: Ownwell